The global race for sovereign wealth funds to invest in Bitcoin appears to be heating up.
Abu Dhabi’s Mubadala Investment Company has emerged as the seventh-largest holder of shares in BlackRock’s Bitcoin ETF, according to a new 13-F filing. The $460 million purchase signals growing institutional interest in Bitcoin and could prompt other major funds to follow suit.
A Domino Effect?
Abra founder and CEO Bill Barhydt believes Mubadala’s move could influence other sovereign wealth funds to increase their Bitcoin allocations.
“Basically, what they’re saying is… ‘we accept Bitcoin as an asset,'” Barhydt told Coinage on Monday, suggesting that funds in Norway and Singapore could soon make similar investments.
Bitcoin and U.S. Policy Considerations
Meanwhile, in the U.S., Elon Musk hinted at concerns over traditional gold reserves. On Monday, he posted a meme on X joking about an audit of Fort Knox, saying, “This gold is the property of the American people. I sure hope it’s still there!”
MicroStrategy CEO Michael Saylor responded to Musk’s post with, “Bitcoin fixes this,” reinforcing his long-standing view that Bitcoin is a superior store of value.
Despite Musk’s commentary, Barhydt remains skeptical that the U.S. government will make any major Bitcoin-related moves in the near term.
“The U.S. is going to at least at a minimum hold on to the Bitcoin we have,” Barhydt said. “We’re going to try to buy more, but I think it’s going to be harder than people think.”
A Shift in Institutional Sentiment?
With President Trump’s working group expected to make an official recommendation on digital assets in the coming months, the role of Bitcoin in sovereign investment strategies is under closer scrutiny.
Mubadala’s bold move could mark the beginning of a larger trend, potentially reshaping how global wealth funds approach digital assets in the years ahead.
